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The live music industry continued its strong rebound in 2023, demonstrating the resilience of concert spending amidst elevated inflation.
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Demand for live events has structurally increased on a global basis coming out of the pandemic.
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The major labels have a relatively low exposure to live music, mainly through their merchandising division.
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Continued momentum in ticket sales lends weight to our thesis that demand for live events is less cyclical.
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Increased awareness of and social value attributable to live events is driven by streaming and social media.
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